How I’m Building My First Million

It’s easy to feel like becoming a millionaire is out of reach reserved for trust fund kids or startup unicorns. But over time, I’ve learned that it’s not about luck or genius. It’s about being intentional. In this episode, we broke down exactly what it takes to get to a million bucks, and it turns out, there are two primary routes: earn it, or accumulate it. I’m working on both.

Accumulation: The Long Game with Big Results

Let’s start with the more attainable method accumulating your way to a million. That means consistently saving and investing over time. Now, if you try to save $4 a day and keep it under your mattress, it’ll take about 700 years to hit your goal. Not a great plan.

But if you invest that $4 daily into something like the S&P 500, which historically returns about 10% annually, you’ll cut that timeline to just 44 years. And if you increase your investment by just 5% annually, your timeline drops to 36 years.

Now let’s say you’re a little more aggressive putting away $500/month and increasing it by 5% each year. Suddenly, you’re staring at $1 million in just 25 years. That’s how powerful consistent investing is, especially when you let time and compounding do the heavy lifting.

Spending Less Isn’t About Deprivation It’s About Prioritization

Here’s the truth: most of us could find more money to invest if we looked hard enough. The biggest drains? Cars and housing. I’ve started making smarter choices driving used instead of luxury, and reconsidering whether I need all that square footage.

There’s also what we call DSYCA Dumb Stuff You Can’t Afford. Subscriptions you don’t use, expensive dinners out, gadgets that don’t bring lasting value. I’ve cut those out and redirected that cash into my investments. It’s not about being cheap. It’s about trading now for financial freedom later.

Investing Without Emotion

One of the biggest lessons I’ve learned is that emotional discipline matters just as much as financial education. Markets rise and fall. The S&P 500 has had recessions and crashes but it still averages a 10% annual return. The key is to stay the course and avoid the temptation to make rash moves when things feel uncertain.

If you understand the market and stick with it long-term, your money grows. It’s not magic. It’s math.

Earning Wealth: The Fast Lane with Higher Stakes

Now, let’s talk about the other path: earning your way to $1 million. This is faster, but it’s harder. If I wanted to make $1 million in a year, I’d need to earn about $2,800 a day. That’s not happening with most 9-to-5 jobs unless you’re an executive or in a high-level specialized field.

That’s where entrepreneurship comes in.

Whether it’s selling a $10 product 280 times a day or a $1,000 product three times a day, the math works out the same. The difference is your strategy and your grit. It’s about building something people want, solving a real problem, and scaling it with platforms like YouTube, Instagram, or TikTok.

Entrepreneurship is tough. I’ve failed before. But I’ve also learned that refining a product, building systems, and scaling sales can grow faster than any stock 2,000% growth isn’t unheard of in the early stages of a business.

The Reality Check: Why This is More Important Than Ever

In the last 50 years, the median household income has gone up 600%, but the cost of living has skyrocketed even more. Back in 1971, one income was enough for a family. Today, even two full-time incomes sometimes can’t keep up.

That’s why becoming intentional about wealth either by saving and investing consistently or creating new income streams is no longer optional. It’s essential.

If I keep prioritizing investing over impulse spending, learning new skills, and staying committed to the long game, I know that first million isn’t a dreamit’s a plan.

Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but he is not providing you with legal advice in this article. This article, the topics discussed, and ideas presented are Jaspreet’s opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.